Fred's funds raise fear of flop

Fred Thompson plans to announce Tuesday that his committee to test the waters for a Republican presidential campaign raised slightly more than $3 million in June, substantially less than some backers had hoped, according to Republican sources.

Thompson plans to make the disclosure in a filing with the Internal Revenue Service, as he continues to operate his prospective campaign as a political organization that does not require disclosure to the Federal Election Commission.

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Many Republicans had seen the “Law & Order” actor and former U.S. senator from Tennessee as a potential savior in a tough election cycle.

He attracted support from such top-shelf party figures as Mary Matalin, Liz Cheney, George P. Bush and other GOP stalwarts who saw him as a potential Hillary Clinton slayer.

But many Republicans have turned queasy as Thompson has ousted part of his original brain trust and repeatedly delayed his official announcement, which is now planned for shortly after Labor Day, in the first two weeks of September.

Some are already saying a prospective Thompson run is a flop. “I just don’t see it anymore,” said a key Republican who had been extremely enthusiastic about a Thompson candidacy.

"That number is really underwhelming. There were indications it could be double that. They've been saying that people were waiting for Fred, and the money was going to pour in. He looks like he's already losing momentum."

Thompson advisers are bracing for news coverage of the fundraising figure as a disappointment, but point out it covers only 26 days -- from June 4, when Friends of Fred Thompson Inc., was formed, to June 30, which the IRS specifies as the closing day for this report.

Thompson camp's defense

“There has been some criticism that the testing-the-waters committee is not such a testing-the-waters committee and that he’s running some sort of campaign,” said a Thompson adviser.

“He’s raising enough to test the waters, not run a full-fledged presidential campaign. He’s not a candidate.”

The adviser said the figure was enough for Thompson to hire some staff, do some travel and work on his policy initiatives.

“It’s not going to be a huge number for a presidential campaign. It’s a testing-the-waters-type number. The number will reflect that goal. He hasn’t been campaigning. He’s been talking to people about whether that figure is the direction he definitely wants to go.”

Republican sources say Thompson has a full-time staff of 30, split between offices in McLean, Va., and Nashville, Tenn., which will be the formal headquarters. In addition, he has interns and volunteers.

A Thompson aide said the former senator is as enthusiastic as ever. “It’s full speed ahead,” the aide said. “Sen. Thompson spent last week traveling the country, meeting with supporters and Fredheads. He was met with great enthusiasm everywhere he went and he’s feeling great.”

Thompson is scheduled to hold a fundraiser in Washington Monday night.

Ticket prices are $1,000 for a person and $5,000 for a political action committee. Many current and former members of Congress are on an honorary host committee.